Citibank Launches One-stop Mobile Account Opening Service

Written by Citibank

Straight Through Account Opening Process for Both Bank and Investment Accounts

HONG KONG, CHINA - Media OutReach ^[1] - December 3, 2019 - Citibank is launching its one-stop Mobile Account Opening Service, which allows new clients to open bank account¹ (Citibanking, Citi Priority or Citigold Account) and investment accounts in one go through Citi Mobile® App at anytime and anywhere. The account application can be completed in a minimum of 10 minutes². Once the application is completed and approved, the new bank account can be used immediately on the same day. Clients no longer have to visit any branch throughout the entire account opening process.

There are several simple steps to complete the bank account and investment accounts^３ application. First, new clients fill in their personal information, select preferred types of investment accounts out of Hong Kong Securities Account, China Connect Shanghai and Shenzhen Securities Account and/or Mutual Fund Account via online application form to register and get an application ID. They then download Citi Mobile® App to verify their HKID Card and capture their selfie, address proof and signature specimen. The approval process of banking account only takes about 10 minutes round the clock, while 3 additional business days are required for investment accounts upon completion of address verification. Successful applicants will receive notifications by both email and SMS, after which they can login to use the accounts via online banking or Citi Mobile® App. There is no limitation on where to transfer the initial fund, no matter same-name account or from someone else. Clients can also enjoy the convenience of applying cheque book online without the need of branch visit.

Josephine Lee, Head of Retail Bank, Citibank said, "Technology and digitization are transforming the way in which we interact with our clients. Consumer preferences are evolving and we realize that most of the banking transactions are made through digital and mobile channels now. It's critical for us not only to engage and to serve our clients digitally, but also to invest in technology to acquire our clients more efficiently in a way that is tailored to their preferred digital lifestyle. With the launch of a mobile account opening service, we are able to connect with our clients remotely throughout the whole banking journey, with the added benefit of simplicity and speed."

From now to December 31, 2019, clients who open both a bank account and a Hong Kong Securities Account via mobile can earn a cash rebate of up to HKD5,000, and enjoy a 3% p.a. bonus HKD savings rate for 2 months. Clients can also enjoy fee waiver for Hong Kong Securities Account.

The above offer is subject to terms and conditions. For details, please visit

https://www.citibank.com.hk/english/banking/promotion-remote-account-opening.html ^[2].

Remarks:

1. Applicable to Citibanking, Citi Priority and Citgold Accounts, with no minimum balance amount requirement. Clients can open bank account and investment accounts through one application at the same time.

2. In usability test, most participants can complete the application for bank and investment accounts within 10 minutes.

3. Investment accounts will be made available to clients within 3 business days after receipt of their completed online application and required documents.